CAD tip # 10790:

A text in Inventor, created dynamically, from the value of a design parameter or property (e.g. a text in a title block) can be wrapped automatically into two or more lines if it doesn't fit into the given window (its width).

For such line-wrap, two conditions must be met. The text must contain spaces, on which the wrapping appears, and you must not force the single-line display for this text. The option "Single line text" can be set with the button between the fields "% Stretch" and "Spacing":

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